公司概述
GreenTree Hospitality Group Ltd. operates primarily through its subsidiaries to develop and manage leased-and-operated, franchised-and-managed hotels and restaurants within the People's Republic of China, while also engaging in food manufacturing and the provision of information technology services. The company functions within the Consumer Cyclical sector, specifically the Lodging industry, positioning it as an entity whose performance is intrinsically linked to discretionary consumer spending and travel demand trends. With a market capitalization of $125.91M and an annual revenue of $1.19B over the trailing twelve months, the firm employs approximately 2,339 individuals across its operations. These financial scales indicate a mid-cap status within the lodging sector, suggesting a significant operational footprint that relies heavily on the cyclical nature of the Chinese hospitality market to generate cash flows.
财务健康
The company reported a revenue of $1.19B and net income of $180.19M for the trailing twelve months, resulting in an EBITDA of $229.18M, which highlights a substantial gap between top-line revenue and bottom-line profit driven by significant operating expenses. Free cash flow stands at -$109,840,104, indicating a current period where capital expenditures and working capital requirements exceed operating cash generation, thereby limiting immediate financial flexibility for expansion or debt reduction. Gross margin is recorded at 35.4%, reflecting the cost structure of hotel operations and food manufacturing before overheads; operating margin sits at 23.1%, demonstrating efficient control over administrative and selling expenses relative to revenue; profit margin is 15.2%, showing the final percentage of revenue that converts to net earnings after all costs including interest and taxes. The balance sheet shows a cash position of $1.64B against total debt of $1.70B, with a debt-to-equity ratio of 98.28%, suggesting a leveraged capital structure where debt obligations are nearly equal to shareholder equity. The current ratio of 1.64 indicates that the company holds 1.64 dollars of current assets for every dollar of current liabilities, signaling adequate short-term liquidity to meet its immediate financial obligations. Return on equity is 10.6% while return on assets is 1.5%, revealing that while the company generates decent returns on shareholder capital, its overall asset efficiency is relatively low, likely due to the heavy asset base typical of the hospitality industry.
估值评估
The trailing twelve-month P/E ratio is 4.77, while the forward P/E is projected at 2.53, implying that the market expects earnings to decline significantly in the near future or that the current stock price is high relative to anticipated future profitability. The price-to-book ratio stands at 0.51, indicating that the market values the company at roughly half of its book value, which suggests the stock is trading at a discount to the net asset value of its tangible assets. Alternative valuation metrics include a price-to-sales ratio of 0.11 and an EV/EBITDA of 0.96, both of which point to a highly depressed valuation relative to historical norms and peers in the lodging sector. The 52-week high is $2.78 and the 52-week low is $1.14, meaning the current price sits within this range but has recently traded significantly below the high, reflecting a downward trend in investor sentiment over the past year. The beta value of 0.60 suggests that the stock's price volatility is less than 60% of the broader market's volatility, indicating lower systematic risk compared to the overall equity market.
Growth & Income
Revenue growth year-over-year is -15.0%, while earnings growth year-over-year is -6.6%, indicating that earnings are declining at a slower rate than revenue, which implies some level of cost pass-through or operational efficiency preservation despite falling sales volume. The company does not pay dividends, as evidenced by a dividend yield of 4.8% and a payout ratio of 0.0%, meaning the firm reinvests all of its earnings back into the business rather than distributing cash to shareholders. This zero-payout policy combined with negative free cash flow suggests the company is prioritizing operational survival and debt management over income generation for shareholders. Overall, the growth and income profile is characterized by double-digit revenue contraction, negative free cash flow, and a complete absence of dividend income, reflecting a challenging operational environment for the hospitality business.